Penalty on Outstanding Taxes

My view is that it is Simple Interest and the penalty will be levied from March.

agree with Rahul...in case of penalty only march while in case of interest that must be last due date of filling return 

YA IT IS SIMPLE INTEREST ONLY SURE

First of all I divide your question into three sections Viz. 234A, B & C.

234A Starts from August for Individuals

234B starts from April 

234C Tax*30*3%+tax*60*3%+tax*1% (Assuming that no advance tax has been paid, if the respective percentages were paid, that part alone can be ignored).

With Regards

Giridharan K

Since this is the hot period of filing returns of indvidual, I construed outstanding taxes as non compliance of payment of advance tax and interest thereon which comes U/s 234B & C.  I consider theses 3 sections as brothers and hence i gave formulas for all the three.